vs
Automatic Data Processing（ADP）与哈雷戴维森（HOG）财务数据对比。点击上方公司名可切换其他公司
Automatic Data Processing的季度营收约是哈雷戴维森的13.7倍（$5.4B vs $390.5M）。Automatic Data Processing净利率更高（19.8% vs -72.3%，领先92.2%）。Automatic Data Processing同比增速更快（6.2% vs -9.4%）。过去两年Automatic Data Processing的营收复合增速更高（1.0% vs -48.6%）
ADP是总部位于美国新泽西州罗斯兰的跨国企业，为全球各行业客户提供云基人力资源管理、薪资核算处理、专业雇主组织（PEO）等领域的专业服务，是全球人力资源服务领域的知名头部供应商。
哈雷戴维森是源自美国的摩托车制造商与生活方式品牌，总部位于威斯康星州密尔沃基，创立于1903年。它是大萧条时期幸存下来的两大美国摩托车厂商之一，历经多次股权变动、子公司调整、经营困境与全球竞争，如今已是全球知名的标志性品牌。
ADP vs HOG — 直观对比
营收规模更大
ADP
是对方的13.7倍
$390.5M
营收增速更快
ADP
高出15.5%
-9.4%
净利率更高
ADP
高出92.2%
-72.3%
两年增速更快
ADP
近两年复合增速
-48.6%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $390.5M |
| 净利润 | $1.1B | $-282.6M |
| 毛利率 | 46.1% | -7.9% |
| 营业利润率 | 25.8% | -92.4% |
| 净利率 | 19.8% | -72.3% |
| 营收同比 | 6.2% | -9.4% |
| 净利润同比 | 10.3% | -138.6% |
| 每股收益（稀释后） | $2.62 | $-2.27 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收ADPHOG
| Q4 25 | $5.4B | $390.5M | ||
| Q3 25 | $5.2B | $1.1B | ||
| Q2 25 | $5.1B | $1.0B | ||
| Q1 25 | $5.6B | $1.1B | ||
| Q4 24 | $5.0B | $430.9M | ||
| Q3 24 | $4.8B | $881.2M | ||
| Q2 24 | $4.8B | $1.4B | ||
| Q1 24 | $5.3B | $1.5B |
净利润ADPHOG
| Q4 25 | $1.1B | $-282.6M | ||
| Q3 25 | $1.0B | $377.4M | ||
| Q2 25 | $910.7M | $107.6M | ||
| Q1 25 | $1.2B | $133.1M | ||
| Q4 24 | $963.2M | $-118.4M | ||
| Q3 24 | $956.3M | $119.0M | ||
| Q2 24 | $829.3M | $218.3M | ||
| Q1 24 | $1.2B | $234.9M |
毛利率ADPHOG
| Q4 25 | 46.1% | -7.9% | ||
| Q3 25 | 45.2% | 26.0% | ||
| Q2 25 | 45.1% | 28.5% | ||
| Q1 25 | 47.7% | 28.9% | ||
| Q4 24 | 45.7% | -2.0% | ||
| Q3 24 | 45.5% | 29.8% | ||
| Q2 24 | 44.8% | 31.8% | ||
| Q1 24 | 47.3% | 30.9% |
营业利润率ADPHOG
| Q4 25 | 25.8% | -92.4% | ||
| Q3 25 | 25.3% | 44.0% | ||
| Q2 25 | 23.2% | 10.7% | ||
| Q1 25 | 29.2% | 14.8% | ||
| Q4 24 | 25.0% | -44.9% | ||
| Q3 24 | 25.6% | 12.0% | ||
| Q2 24 | 22.8% | 17.8% | ||
| Q1 24 | 29.4% | 17.8% |
净利率ADPHOG
| Q4 25 | 19.8% | -72.3% | ||
| Q3 25 | 19.6% | 35.0% | ||
| Q2 25 | 17.8% | 10.2% | ||
| Q1 25 | 22.5% | 12.3% | ||
| Q4 24 | 19.1% | -27.5% | ||
| Q3 24 | 19.8% | 13.5% | ||
| Q2 24 | 17.4% | 16.1% | ||
| Q1 24 | 22.6% | 15.9% |
每股收益（稀释后）ADPHOG
| Q4 25 | $2.62 | $-2.27 | ||
| Q3 25 | $2.49 | $3.10 | ||
| Q2 25 | $2.23 | $0.88 | ||
| Q1 25 | $3.06 | $1.07 | ||
| Q4 24 | $2.35 | $-0.82 | ||
| Q3 24 | $2.34 | $0.91 | ||
| Q2 24 | $2.01 | $1.63 | ||
| Q1 24 | $2.88 | $1.72 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $2.5B | $3.1B |
| 总债务越低越好 | — | $2.5B |
| 股东权益账面价值 | $6.4B | $3.1B |
| 总资产 | $84.6B | $8.0B |
| 负债/权益比越低杠杆越低 | — | 0.79× |
8季度趋势，按日历期对齐
现金及短期投资ADPHOG
| Q4 25 | $2.5B | $3.1B | ||
| Q3 25 | $7.9B | $1.8B | ||
| Q2 25 | $7.8B | $1.6B | ||
| Q1 25 | $2.7B | $1.9B | ||
| Q4 24 | $2.2B | $1.6B | ||
| Q3 24 | $7.3B | $2.2B | ||
| Q2 24 | $3.3B | $1.8B | ||
| Q1 24 | $3.3B | $1.5B |
总债务ADPHOG
| Q4 25 | — | $2.5B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | — | $6.4B | ||
| Q1 25 | — | $6.8B | ||
| Q4 24 | — | $6.3B | ||
| Q3 24 | — | $7.3B | ||
| Q2 24 | — | $7.0B | ||
| Q1 24 | — | $6.3B |
股东权益ADPHOG
| Q4 25 | $6.4B | $3.1B | ||
| Q3 25 | $6.4B | $3.6B | ||
| Q2 25 | $6.2B | $3.3B | ||
| Q1 25 | $5.9B | $3.2B | ||
| Q4 24 | $5.1B | $3.2B | ||
| Q3 24 | $5.3B | $3.4B | ||
| Q2 24 | $4.5B | $3.4B | ||
| Q1 24 | $4.6B | $3.3B |
总资产ADPHOG
| Q4 25 | $84.6B | $8.0B | ||
| Q3 25 | $54.3B | $10.6B | ||
| Q2 25 | $53.4B | $12.1B | ||
| Q1 25 | $56.4B | $12.4B | ||
| Q4 24 | $64.1B | $11.9B | ||
| Q3 24 | $49.5B | $13.0B | ||
| Q2 24 | $54.4B | $12.8B | ||
| Q1 24 | $64.2B | $12.3B |
负债/权益比ADPHOG
| Q4 25 | — | 0.79× | ||
| Q3 25 | — | 1.25× | ||
| Q2 25 | — | 1.91× | ||
| Q1 25 | — | 2.14× | ||
| Q4 24 | — | 2.00× | ||
| Q3 24 | — | 2.13× | ||
| Q2 24 | — | 2.03× | ||
| Q1 24 | — | 1.88× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $1.1B | $152.0M |
| 自由现金流经营现金流 - 资本支出 | — | $100.4M |
| 自由现金流率自由现金流/营收 | — | 25.7% |
| 资本支出强度资本支出/营收 | — | 13.2% |
| 现金转化率经营现金流/净利润 | 1.07× | — |
| 过去12个月自由现金流最近4个季度 | — | $415.2M |
8季度趋势，按日历期对齐
经营现金流ADPHOG
| Q4 25 | $1.1B | $152.0M | ||
| Q3 25 | $642.3M | $-92.6M | ||
| Q2 25 | $1.4B | $368.0M | ||
| Q1 25 | $1.5B | $141.5M | ||
| Q4 24 | $1.2B | $133.2M | ||
| Q3 24 | $824.4M | $353.0M | ||
| Q2 24 | $1.3B | $473.6M | ||
| Q1 24 | $1.5B | $104.0M |
自由现金流ADPHOG
| Q4 25 | — | $100.4M | ||
| Q3 25 | — | $-129.1M | ||
| Q2 25 | — | $332.4M | ||
| Q1 25 | — | $111.6M | ||
| Q4 24 | — | $77.0M | ||
| Q3 24 | — | $300.4M | ||
| Q2 24 | — | $432.2M | ||
| Q1 24 | — | $57.6M |
自由现金流率ADPHOG
| Q4 25 | — | 25.7% | ||
| Q3 25 | — | -12.0% | ||
| Q2 25 | — | 31.7% | ||
| Q1 25 | — | 10.3% | ||
| Q4 24 | — | 17.9% | ||
| Q3 24 | — | 34.1% | ||
| Q2 24 | — | 31.9% | ||
| Q1 24 | — | 3.9% |
资本支出强度ADPHOG
| Q4 25 | — | 13.2% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 3.4% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | 13.0% | ||
| Q3 24 | — | 6.0% | ||
| Q2 24 | — | 3.1% | ||
| Q1 24 | — | 3.1% |
现金转化率ADPHOG
| Q4 25 | 1.07× | — | ||
| Q3 25 | 0.63× | -0.25× | ||
| Q2 25 | 1.58× | 3.42× | ||
| Q1 25 | 1.22× | 1.06× | ||
| Q4 24 | 1.19× | — | ||
| Q3 24 | 0.86× | 2.97× | ||
| Q2 24 | 1.57× | 2.17× | ||
| Q1 24 | 1.26× | 0.44× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
ADP
| HCM | $2.2B | 42% |
| PEO Zero Margin Benefits Pass Throughs | $1.1B | 21% |
| HRO | $979.3M | 18% |
| Global | $709.3M | 13% |
| Interest On Funds Held For Clients | $308.6M | 6% |
HOG
| Motorcycles | $193.9M | 50% |
| Other Income Financial Services | $59.8M | 15% |
| Apparel | $47.2M | 12% |
| Interest Income Financial Services | $45.8M | 12% |
| Other | $18.0M | 5% |
| Livewire Segment | $11.4M | 3% |
